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Nov 24, 2009 9:00pm EST
in the financial meltdown walked away with huge pay offs before the collapse. lisa myers reports. >> reporter: it was the early phase of the financial meltdown last year. first bear stearns was sold to avoid a collapse. thousands of employees lost jobs. a new study by experts at harvard law school titled wages of failure found that since 2000, the top five executives received staggering amounts of cash bonuses and sold mountains of stock. bear stearns cashed out $1.4 billion and lehman brothers $1 billion. >> people who invested in these companies should feel betrayed. the idea of capitalism is people provide the capital and executives take care of it for us. people provided capital and the executives took it. >> reporter: when the firms collapsed james and richard lost about $900 million of stock. but the studies said they came out well ahead overall. cane had $388 million and fold $541 million. >> they were rewarded hundreds of millions of dollars. they got that reward for making catastrophic decisions. >> last year, cane bought two condominiums here. at the iconic plaza hotel in new york c
Search Results 0 to 1 of about 2 (some duplicates have been removed)